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Multi-agent Network Models of Financial Stability
Klinger, Tomáš ; Teplý, Petr (advisor) ; Tripe, David (referee) ; Stavárek, Daniel (referee) ; Jakubík, Petr (referee)
The thesis focuses on banking regulation and on the nexus between financial sovereign crises. After illustrating the main mechanisms on the recent financial crisis, we construct several multi-agent network models of a financial system for testing its stability under different parameters. In the first part, we focus on the rationale for banking regulation and we describe its development including the recently introduced Basel III measures. The main conclusion of this part is that regulation is to a large extent influenced by the banks and it does not always secure financial system stability. In the second part, we build an agent-based model which enables us to simulate the impacts of various types of negative shocks given various settings of the banking system and the regulatory environment, including the capital and liquidity measures. Our simulations show firstly that sufficient capital buffers are crucial for systemic stability, secondly that the discretionary measures have little effect once a crisis breaks out and thirdly that liquidity measures are a relevant regulatory tool. In the third part, the model is extended so that it allows for testing effects of state support on systemic stability is tested with various parameter settings in Monte Carlo simulations and for testing of feedback loops in which...
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Systemic risk and sovereign crises: modelling interconnections in the financial system
Klinger, Tomáš ; Teplý, Petr (advisor) ; Jakubík, Petr (referee)
This thesis focuses on the link between financial system and sovereign debt crises through sovereign support to banks on one hand and banks' exposures to weak sovereigns on the other. After illustrating the main relationships on the recent financial crisis, we construct an agent-based network model of an artificial financial system allowing us to analyse the effects of state support on systemic stability and the feedback loops of risk transfer back into the financial system. First, the model is tested with various parameter settings in Monte Carlo simulations and second, it is calibrated to the real world data using a unique dataset put together from various sources. Our analyses yield the following key results: Firstly, in the short term, all the support measures improve the systemic stability. Secondly, in the longer run, the effects of state support depend on several parameters but still there are settings in which it significantly mitigates the systemic crisis. Finally, there are differences among the effects of the different types of support measures.
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Systemic risk and sovereign crises: modelling interconnections in the financial system
Klinger, Tomáš ; Teplý, Petr (advisor) ; Jakubík, Petr (referee)
This thesis focuses on the link between financial system and sovereign debt crises through sovereign support to banks on one hand and banks' exposures to weak sovereigns on the other. After illustrating the main relationships on the recent financial crisis, we construct an agent-based network model of an artificial financial system allowing us to analyse the effects of state support on systemic stability and the feedback loops of risk transfer back into the financial system. First, the model is tested with various parameter settings in Monte Carlo simulations and second, it is calibrated to the real world data using a unique dataset put together from various sources. Our analyses yield the following key results: Firstly, in the short term, all the support measures improve the systemic stability. Secondly, in the longer run, the effects of state support depend on several parameters but still there are settings in which it significantly mitigates the systemic crisis. Finally, there are differences among the effects of the different types of support measures.
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State financial support for families with children in the Czech republic and in Norway
Šubrtová, Markéta ; Dobiášová, Karolína (advisor) ; Tušková, Eva (referee)
The Bachelor thesis State financial support for families with children in the Czech Republic and Norway are mainly devoted to comparison of specific instruments of financial support for families with children in both countries that relate to pregnancy, maternity and parenthood. I chose Norway to my work because they are among the most developer countries in Europe and their social policy is not too much discussed in the Czech Republic. In the first part of my work I deal with the definition of family policy in the Czech Republic and in the Norway. I mainly focus on financial support for famililes and factors affecting it, which is mainly economic situation of both countries and their demographics. In the following section I focus on the comparison of the specific instruments of financial support in both states, which are child allowance, birth grant, parental allowance, parentel leave and maternity or paternity. In the end I created a model example of two-income families with small child, to which I applied Czech and Norwegian systém of state social support for outlining the specific differences between two countries for the same type of family.
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Evaluation of Business Financial Support
Gregor, Štěpán ; Víška, Jiří (referee) ; Režňáková, Mária (advisor)
The goal of this thesis is the analysis of small and medium enterprises financial support with respect to the Joint Regional Operational Programme as an bearer of regional support, which is financed from the European Union and the following list of recommendations within the frame of the realization stage of the project cycle that are generalized especially at the level of the final user as the beneficiary of the support.
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Investment Construction in the Frame of the Regional Development
Zmrhalová, Adéla ; Jakubec, Josef (referee) ; Hrabincová, Dagmar (advisor)
The goal of the thesis is to create a general knowledge about function of regional policy of European Union in the Czech Republic and about drawing of financial resources from EU funds for a particular project. The introduction describes the concept of European Union and the formation of regional policy. In addition, it describes regional policy in the Czech Republic and the project in general. The practical part describes the project of Revitalisation of the pond in Čenkov by Třešť from setting the targets, applying for the reguest of subsidy, up to implementation, termination and final use.
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Comparison of Family Policy in the Czech Republic, Sweden and Italy in 2005 -2015
Ulrichová, Barbora ; Vostrovská, Zdenka (advisor) ; Barák, Vladimír (referee)
This bachelor thesis is focused on the comparison of family policy in the Czech Republic, Sweden and Italy. The thesis regards family policy in selected countries in terms of ability to secure families with children and harmonizing work and family life. Swedish family policy belongs to countries with generous system of social benefits and Sweden is a country with an active approach to family policy. System of family policy in the Czech Republic is still forming and as system of family policy in Italy is not very developed. The thesis analyzes specific direct and indirect instruments to families support and compares the extent of financial funds, which are designed for families with children.
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Comparison of family policy in Norway and the Czech Republic in the years 1993 - 2014
Rýdlová, Barbora ; Vostrovská, Zdenka (advisor) ; Brabec, Petr (referee)
This thesis aims to analyze the development, its deteminants, instruments and objectives of family policy in the Czech Republic and Norway, focusing on maternity and parental leave. With respect to the different attitude of the two policies, support for families with children is compared on several theoretical levels and also demonstrates the use of supporting families in practice. It was found out, that Norway provides greater support to the ratio of expenditure to GDP, as well has a more appropriate measures for families in the context of harmonization of work and family life. In addition to the comparison between these two systems of family policy the thesis also provides suggestions for improvement using the Norwegian model.
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Funds from the European Union
KESLOVÁ, Markéta
The aim of this bachelor thesis is to compare two, a "soft" (non-investment) and a "hard" (investment), projects which represent specific applicants' business objectives for funding grants from the EU. The thesis analyzes deriving from the structural funding of the EU in the programming period 2007 2013, it describes main pitfalls in deriving from these resources and evaluates them. The thesis also describes positive and negative aspects that come with this financial support. This bachelor thesis is divided into two parts a practical part and a theoretical part. The theoretical part describes the 2007 2013 funding programmes. The practical part is focused on the analysis of the operational programmes. It also evaluates positive and negative aspects that come with obtained funds, and the constraints associated with the project implementation.
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